Risk management

Understanding and managing risk is critical in navigating you, your family and your business through a world of growing complexity. At KPMG Family Office, our tailored approach to risk management focuses on areas that impact you, including financial, business, ownership, familial and reputational risk. As part of our comprehensive risk management process, we can help you by identifying risks across your business and personal life, taking steps to mitigate them and addressing and reducing the effects of any incidents that might occur.

Our trusted advisors work closely with you and your family to help:

Detect and respond to cyber risk
Protect your privacy, identity and reputation
Manage third-party risk
Create a protected IT environment
Monitor and comply with regulatory requirements

How we can help

Cyber – Identity and access management

Cyber security is an important part of an effective risk management plan. KPMG Family Office manages cyber security health checks for identity protection and privacy to help you identify and address potential risks, comply with regulations, use safer platforms and achieve operational efficiency.

Forensic – Corporate intelligence

Getting accurate corporate intelligence can help manage risks to you and your business. KPMG Family Office manages third-party risk by conducting forensic scans on your current and prospective business partners, organizations and employees to help reduce risk, avert corporate problems and aid in investigations.

IT environment management

Information technology (IT) plays an integral role in many people's lives and businesses, and so managing risk in information systems is critical. Our risk management advisors assist with the efficient set-up of your personal and/or business IT environment through end-to-end design based upon industry-wide best practices and emerging risks.

Cyber – Response

Cyber breaches can carry significant costs and consequences for successful individuals, their families and their businesses. To manage risk, KPMG Family Office provides immediate services to detect and respond to cyber breaches to help recover data, secure evidence, determine the cause, close existing vulnerabilities, and support through internal, legal and/or law enforcement inquiries.

Forensic – Data analytics

Reputational risk is an important type of business risk to account for. KPMG Family Office helps you manage reputational risk in financial and non-financial data (including social media footprint) through identifying unusual transactions or events that may be indicative of fraud, misconduct or abuse.

Regulatory compliance – Continuous monitoring

Families and family businesses face a wide range of laws and regulations they need to comply with. Our risk management professionals assist with continuous monitoring to maintain certain permits and licenses (e.g., machinery, real estate, vendor, hunting-firearms) to ensure ongoing compliance with regulations.

Frequently asked questions (FAQs)

You, your family and your business require risk management professionals who understand your long-term strategic vision, with the confidence that comes from deep industry knowledge and experience with similar enterprises. Our proactive, trusted advisors work closely with you and your family to help ensure effective risk management by:

Detecting and responding to cyber risk
Protecting your privacy, identity and reputation
Managing third-party risk
Creating a protected it environment
Monitoring and complying with regulatory requirements

Our advisors help family businesses by addressing complex risk management issues, creating and protecting sustainable business value, and transforming risk into a strategic advantage. We help in a range of areas, such as credit risk management, market and treasury risk, operational risk management, and regulatory advisory.

Cyber attacks and breaches are on the rise globally, and they can have significant impacts on a business, including financial and reputational costs. For successful individuals, their families and their businesses, having a cyber security risk management strategy in place is critical. An effective strategy helps keep security up to date and ensures the appropriate policies and procedures are in place to both prevent and respond to a cyber breach.

Family businesses are unique, and so are their risks. By recognizing and managing risks as they arise, you will have the potential to reduce their impact.

There are many benefits to addressing risk management. A strategic and effective approach to risk management can help improve decision-making, increase accountability, focus resources in areas of highest risk, and increase your success in meeting business objectives.

Insights and resources

The Nigeria Data Protection Act, 2023

On 12 June 2023, President Bola Ahmed Tinubu, GCFR, signed the Nigeria Data Protection Bill, 2023 into law as Nigeria Data Protection Act, 2023 (“the Act” or “NDPA”). The Act establishes the legal framework for the regulation of personal data in Nigeria and replaces the Nigerian Data Protection Regulations (NDPR) 2019 and the NDPR Implementation Framework 2019 issued under the National Information Technology Development Agency (NITDA) Act.

The Nigeria data protection act